The SEC has rolled out a successful enforcement action where money has been returned to harmed investors, after the information and assistance of three whistleblowers.

The investigation started when the first whistleblower provided detailed and significant information to the SEC, which made the Commission open an investigation into a fraudulent scheme. That information and assistance saved the SEC considerable time and resources, and had a significant impact on the overall success of the operation.

“All three whistleblowers provided valuable information and assistance, which played a critical role in the SEC bringing an enforcement action and returning millions of dollars to harmed investors.”

Creola Kelly, Chief of the SEC’s Office of the Whistleblower

Later in the investigation, the second and third whistleblower provided additional information that also contributed to the success of the enforcement action. 

For their joint efforts, the three whistleblowers were awarded totalling $18m.

“All three whistleblowers provided valuable information and assistance, which played a critical role in the SEC bringing an enforcement action and returning millions of dollars to harmed investors,” said Creola Kelly, Chief of the SEC’s Office of the Whistleblower.  

This is the second whistleblower award of 2023. The first whistleblower, whose information led to a successful SEC enforcement action, was awarded $5m on January 13.